11 Apr, 2022, 16:54 ET
BOCA RATON, Fla., April 11, 2022 /PRNewswire/ -- Phoenix Tower International ("PTI") announces that it has closed two transactions in the US, with the first transaction being the acquisition of a 100% ownership interest in Tower Ventures Holdings III, LLC ("Tower Ventures") and related entities; and the second transaction the 100% acquisition of the US-based telecom infrastructure services company, Technology Associates EC Inc. ("TAEC").
The Tower Ventures transaction provides PTI ownership of 202 high-quality wireless telecommunications sites across the country. This marks the second transaction between Tower Ventures and PTI, with the first transaction taking place in 2020 (see further details here). The acquisition of these new sites further advances PTI's position as the leading private tower company in the world.
The TAEC transaction bolsters PTI's telecom infrastructure services' offering and geographic footprint in the US. The transaction provides PTI with a country-wide presence and with additional 90+ leading telecom professionals. The TAEC transaction expands PTI's US business to offer services, such as project management, data management, site acquisition, backhaul and AAV/fiber design and acquisition, architecture & engineering design and structural engineering, and construction project management. The TAEC team will allow PTI to further integrate as a strategic partner to US wireless carriers in connection with the ongoing densification of networks and roll-out of next-generation technologies, including 5G.
"With these two acquisitions, PTI continues to grow and scale in the United States for its customers, providing a high quality portfolio of strategic sites across the country and a best in class services business to help our customers build out their 5G networks faster. Furthermore, the TAEC transaction doubles our personnel in the United States to over 200 employees dedicated to helping our customers achieve their goals." Stated Dagan Kasavana, CEO of Phoenix Tower International
About Phoenix Tower International
PTI, through its subsidiaries, will, pro forma for pending transactions, own and operate over 18,000 telecom towers and 986 kilometers of fiber across 18 countries throughout the United States, Europe, Latin America and the Caribbean.
PTI was founded in 2013 with a mission to be a premier site provider to wireless operators across the world and in high-growth markets. PTI's investors include funds managed by Blackstone and various members of the management team and is headquartered in Boca Raton, Florida. For more information, please visit www.phoenixintnl.com
About Tower Ventures
Tower Ventures is a Memphis, Tennessee based cell phone tower operator that owns and manages a combined 850 wireless communication sites in the United States. Tower Ventures and its subsidiaries have developed towers since 1987 and over that time have successfully built and sold tower portfolios valued at over $800 million dollars. Tower Ventures is owned by its management team with an investment from BBH Capital Partners, a private equity strategy of Brown Brothers Harriman & Co.
About Technology Associates EC Inc.
Technology Associates EC Inc. (TAEC) was founded in 2005 as the Commercial Division of Technology Associates International Corp. (TAIC), a government consulting contractor in the Information Technology, Security, and Asset Management sectors. TAEC diversified into commercial consulting practice areas, including Wireless Convergence Telecommunications, Professional Project Management, Microwave Engineering, and Asset Management.
Responding to the marketplace during the global economic crisis of the late-2000s, TAEC refocused its diversified services offerings on its then and current core competencies of wireless telecommunications deployment and professional services consisting of Site Acquisition, Architecture and Engineering Designs, and Construction Project Management (CPM). TAEC currently performs services across 8 states in the Western region of the United States.
Bank Street Group served as exclusive financial advisor to TAEC in connection with the Transaction.
SOURCE Phoenix Tower International
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